LESSON ONE First Remember that: THE LOCAL PROPERTY TAX in New Jersey is in fact a LOCAL TAX. This means that the tax is assessed and collected at the local municipal level for the support of: LOCAL SCHOOLS MUNICIPAL GOVERNMENT COUNTY GOVERNMENT THE STATE RECEIVES NO PORTION OF THESE PROPERTY …

One of the biggest complaints that I hear from homeowner is that their property taxes are too high. In spite of this, most homeowners don’t try to get their taxes reduced. This is a costly mistake. In high tax states, the taxes on the property can often exceed the mortgage …

Own residential rental properties? This article discusses how income from those properties impacts your taxes. What Constitutes Revenue? Generally, rental income is defined as any revenue you receive from the occupancy or use of residential property. Rent, obviously, is included in that revenue. Many owners are surprised to learn revenue …